Compare Analysis of First National Bank Alaska with 0.07% APY and Discover Bank with 3.60% APY
This analysis is for demonstrative purposes only. Savings rates may go up or down, and CD rates may not be renewable for the length of the term of the analysis.
PRODUCT
BANK
AMOUNT
TERM
APY
VS.NATL'L AV.
MIN
BANK TYPE
STATE
All calculations are for demonstration purposes only.
- 1LOCAL MONEY MARKET$50,000N.A.0.07%0.51x (National Avg. - 0.14%)$25,000Bank-SCENARIO
Year Rate
0.07%Annual
InterestAnnual Interest
(After Tax)1 50,000 35 25 2 50,035 35 25 3 50,070 35 25 4 50,105 35 25 5 50,140 35 25 6 50,175 35 25 7 50,210 35 25 8 50,246 35 25 9 50,281 35 25 10 50,316 35 25 11 50,351 35 25 12 50,386 35 25 13 50,422 35 25 14 50,457 35 25 15 50,492 35 25 16 50,528 35 25 17 50,563 35 25 18 50,598 35 25 19 50,634 35 25 20 50,669 35 25 TOTAL $705 $493 - 2LOCAL SAVINGS$50,000N.A.3.60%26.47x (National Avg. - 0.14%)$0Online Bank-SCENARIO
Year Rate
3.60%Annual
InterestAnnual Interest
(After Tax)1 50,000 1,800 1,260 2 51,800 1,865 1,305 3 53,665 1,932 1,352 4 55,597 2,001 1,401 5 57,598 2,074 1,451 6 59,672 2,148 1,504 7 61,820 2,226 1,558 8 64,045 2,306 1,614 9 66,351 2,389 1,672 10 68,740 2,475 1,732 11 71,214 2,564 1,795 12 73,778 2,656 1,859 13 76,434 2,752 1,926 14 79,186 2,851 1,995 15 82,036 2,953 2,067 16 84,990 3,060 2,142 17 88,049 3,170 2,219 18 91,219 3,284 2,299 19 94,503 3,402 2,381 20 97,905 3,525 2,467 TOTAL $51,430 $36,001